Uzbekistan, China discuss energy cooperation

A meeting of the sub-committee on cooperation in the energy sector of the Uzbek-Chinese Intergovernmental Cooperation Committee was held in Tashkent August 12.

The ministers and heads of departments, companies and concerns of Uzbekistan and China, responsible for such areas as external economic relations, banking and financial, economic, oil and gas, energy, geology attended the meeting.

During the forum, representatives of Uzbekistan and China discussed the state and prospects of cooperation between the countries in the economy, oil and gas and energy spheres.

The sides also discussed further development and strengthening of bilateral relations and implementation of the mutually beneficial joint projects.

It should be stressed that Uzbekistan and China are implementing the projects in the energy sector in the amount of $ 2.8 billion. Some $ 2.5 billion (90%) of this amount are direct investments.

China is one of the largest trade partners of Uzbekistan. The trade volume between the two countries has increased by almost 6 times for the past 6 years and amounted to $ 5.2 billion as of 2013.

The trade turnover between Uzbekistan and China amounted to more than $ 2.163 billion for the first half of 2014.

Some 482 joint ventures with Chinese capital, as well as the representative offices of more than seventy Chinese companies operate in Uzbekistan.